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Fresher - Salary Annexure

The document outlines the total remuneration package for an Engineer Trainee Level 1'B, including a basic monthly salary of Rs. 15,000, allowances for housing, internet, special duties, and employer contributions to insurance, pension, and medical plans totaling Rs. 27,367 per month. Mandatory deductions include contributions to provident fund and potential medical insurance premiums. A number of additional benefits such as life and accident insurance are also provided with company contributions.

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Aakash Yadav
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159 views2 pages

Fresher - Salary Annexure

The document outlines the total remuneration package for an Engineer Trainee Level 1'B, including a basic monthly salary of Rs. 15,000, allowances for housing, internet, special duties, and employer contributions to insurance, pension, and medical plans totaling Rs. 27,367 per month. Mandatory deductions include contributions to provident fund and potential medical insurance premiums. A number of additional benefits such as life and accident insurance are also provided with company contributions.

Uploaded by

Aakash Yadav
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Name

Role Title Engineer Trainee


Level 1'B
Details of Total Remuneration
MONTHLY TAKE
AMOUNT IN INR MAXIMUM LIMIT
SALARY COMPONENTS HOME SALARY
PER ANNUM (INR P.A.)
(INR p.m.)

Basic Pay 180,000


15,000
Provident Fund (Employer’s Contribution) 21,600

Internet Connectivity Allowance 7,200


600
Special Allowance FLEXI COMPONENTS* 51,200
4,267
House Rent Allowance (HRA) 90,000
7,500
Leave Travel Assistance (LTA) 0
Food Coupons 0
National Pension Scheme (Employer’s
0
Contribution)
COST TO COMPANY 3,50,000
27,367

Employee's contribution to PF @ 12% of


Basic 1,800
Mandatory Deductions

Employee's contribution to ESI @ 0.75% of


wages -

Employee's contribution to mediclaim


(50% of the premium - Mandatory Self
option Only)
195
(Amount may vary if employee opts of any
other option)

***Net take home (before tax deductions)


25,371

Company
Other Benefits** Contribution Coverage Amount
(Average Premium)
Group Medical Insurance (Mediclaim)
500,000
Policy
Group Term Life Insurance Policy 10,606 1,000,000
Group Personal Accident Policy 1,000,000
Footnotes on Asterisked Items above -
* The eligibility of these components is guided by the respective Company Policies for each Level except for Special Allowance.
** In Addition to the above, you will also be entitled to participate in the Company’s Group Personal Accident Policy (GPAP),
Group Term Life Insurance Policy as per the Schemes existing in the Company. The participation in Group Medical Insurance for
self is mandatory and company contributes to the premium as per the policy. The premium amounts are indicative and may
change annually basis the changes in policy and other market factors.
***Actual Net take home will depend on the flexi basket the employees chooses, type of Insurance scheme that the employees
might opt for, monthly reimbursements that the employees might claim for and other necessary tax deductions as per the Indian
IT laws.
You will also be eligible for Gratuity as per the Payment of Gratuity Act

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